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Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
 COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal reference price for coal sales in February 2013 gained 0.91 percent compared to last month. The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price for February 2013 at US$ 88.35 per ton, US$ 0.80 higher than January 2013 bench mark Price.
This coal benchmark price was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the January 2013 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-5900 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25%.
Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur 0.8% (arb), Ash Content 15 % (arb) and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 28 February 2013.
Energy and Mineral Resources Deputy Minister Rudi Rubiandini said early last month that, the Indonesian coal output would increase by 1.2 percent to 391 million tons from 386 million tons last year. According to, one of the leading English news paper in Indonesia, the Jakarta post, that the government had expected the Indonesia coal reference price (HBA) to reach over US$100 per ton this year following potential economic recovery as showed by the recent US fiscal-cliff budget deal, as quoted by Deputy Minister.
The country’s average HBA last year only reached $95.5 per ton, far below the average price level of $118.4 per ton throughout 2011. The January 2013 Indonesia coal reference price (HBA) has jumped by US$ 5.80 per MT or 7.09% from December 2012 price and the February 2013 price has up only by 0.91 percent M-O-M. If HBA continues its journey on this trend then, it may reach government prediction within end 2nd quarter 2013.
In the meantime, world coal analysts and coal industry experts are also predict that, the coal industry and price will improve in coming months as the consumers are back to field to source the coal.
RBS Morgans chief economist Michael Knox said last November, during Brisbane's Major Projects Conference, of all commodities, oil prices always hit the bottom first before beginning to rise, followed by metals including iron ore. Metallurgical coal - used for steel production - was always later, followed by thermal coal.
"In coming months you will see a base in metallurgical coal," he said during conference cited by sunshine coastal daily of Australia. "You'll be able to say in a year's time that the low in metallurgical coal is behind us and you will see a rally (in prices). "Six months later, you will see a rally in thermal coal,” he said, the media further said.
Goldman Sachs, expects met prices to average US$178 per tonne in 2013, rising to US$195 per tonne in 2014. Many other analysts have made similar predictions, according to Northern Miner.
The government of Indonesia has been publishing a monthly coal reference price (HBA & HPB) since January 2009 to be used by coal producers for all spot and term contracts. However the full implementation of HBA has started only since September 2011.
The February 2013 HBA is 23.23 percent or $ 20.82 lower Y-o-Y basis.
The price was only valid for the spot price (loading on or before 28 February 2013), while as for term price (up to 12 months supplies), the average reference price (HPB) of the previous 3 months will be used to determine the selling price. (50% of latest available month HPB, 30% of one month prior HPB and 20% of two months prior HPB).
Government also declared reference price for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands are acted as the benchmark and used to calculate other 62 coal types with a quality similar to the coal price markers.
For sales in barge, the reference price is reduced by barging and transshipment costs from barge to vessel.
The coal reference price, which has been established to fulfill the requirement of mining law 04/2009 and latest ministerial decree 17/2010 and also aims to increase government revenue from royalties from coal producers. According to industry, all existing coal supply agreements with Indonesian coal mining companies have been revised to comply with new coal pricing regulation, which was fully implemented on 23 September 2011.
The government has recently introduced export duty for unprocessed minerals but coal was missing in the recent regulation. According to Mining law 04/2009, the coal producers of Indonesia were asked to add value for their product such as washing, crushing, blending and upgrading to have a higher-value product prior to eye on the export market and avoid proposed export ban. However the industry players are in opinion that, the government may not proceed further with LOW GCV coal export ban by early next year as planned earlier.
According to local media reports, the Supreme court of Indonesia had ordered the government to withdraw four chapters in the regulation, including one chapter limiting the exports of raw minerals since May 6. According to Ministerial Decree No. 7 on mineral processing, mining companies would only be granted mineral ore export permits after receiving CNC for their business licenses as well as showing commitment to establish smelters or cooperate with other companies to process their mineral ores for export.
Click here for complete Indonesian coal reference prices since January 2009.(cs)
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Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
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- Renaissance Capital - South Africa
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- Wood Mackenzie - Singapore
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- MS Steel International - UAE
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- Binh Thuan Hamico - Vietnam
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- Tata Chemicals Ltd - India
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- Metalloyd Limited - United Kingdom
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- Georgia Ports Authority, United States
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- Economic Council, Georgia
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- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
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- Eastern Energy - Thailand
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- Xindia Steels Limited - India
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- Indogreen Group - Indonesia
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- London Commodity Brokers - England
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- Australian Commodity Traders Exchange
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- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
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- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
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- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Posco Energy - South Korea
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- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
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- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
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- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
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- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
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- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
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- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
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- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
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- GAC Shipping (India) Pvt Ltd
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- Siam City Cement - Thailand
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- Minerals Council of Australia
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